Market Jitters Following SEBI Action

India’s market regulator Securities and Exchange Board of India has taken strict action against Rajesh Exports Limited over alleged financial irregularities. The regulator has temporarily barred the company and its promoter Rajesh Mehta from accessing the securities markets. Following this development, the company’s shares fell sharply during today’s trading session, hitting the lower circuit with a 5 percent drop to ₹103.92.

The impact extended to Life Insurance Corporation of India, which holds a 10.80 percent stake in Rajesh Exports. LIC shares declined by over 1 percent during intraday trading and were down 0.77 percent at ₹399.80 around 11 AM. SEBI’s investigation revealed that 97–99 percent of Rajesh Exports’ consolidated revenue came from foreign subsidiaries, particularly a Switzerland-based entity. However, discrepancies in financial disclosures and inflated revenue reporting between FY2021 and FY2025 prompted regulatory action.